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Politics 2019-11-14T04:02:44+02:00
Ukrainian news
Court Of Appeal Of Paris Declines Russia’s Appeal On Suspension Of Compulsory Execution In Oschadbank Case

Court Of Appeal Of Paris Declines Russia’s Appeal On Suspension Of Compulsory Execution In Oschadbank Case

Russia, Oschadbank, appeal, Paris Appela Court

The Court of Appeal of Paris has rejected the appeal of the Russian Federation on suspension of compulsory execution of a ruling in the case of Kyiv-based Oschadbank (Savings Bank) state-run bank.

The bank has said this in a statement, Ukrainian News Agency reports.

The Court announced its ruling on October 8, 2019.

The major Russia’s argument was the fact that the compulsory execution of the arbitration decision in the countries that are protecting state immunity at a lesser level than the French Republic might affect it.

By appealed to the French court, the Russian Federation admitted it did not intend to fulfill the ruling.

As Ukrainian News Agency earlier reported, in September, Oschadbank obtained writs of execution to recover damages worth USD 1.3 billion from Russia.

Earlier, Oschadbank had won the Russian Federation at the International Court of Arbitration over the annexation of the Autonomous Republic of Crimea.

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